Farm Ireland

Monday 23 October 2017

Steady trading pattern goes on for small parcels

Jim O'Brien

Jim O'Brien

STEADY trade in smaller parcels of ground continues, with properties selling at or above guide prices.

Typical of the current transactions was the sale after auction of a 36ac non-residential farm at Rathcline, Lanesboro, Co Longford. The property made over €380,000 or €10,550/ac, surpassing its guide by at least €100,000.

The farm is described by Dylan Murtagh, of Murtagh Brothers, Mullingar, as an excellent parcel of land on an elevated site overlooking the Shannon.

It is located 1.5 miles from the village of Lanesboro.

Currently under grass, the ground is said to be suitable for any kind of farming, is well fenced, watered with mains water and has substantial road frontage.

Some 30 people attended the sale at the Longford Arms and bidding opened at €300,000.

Two bidders took to the task with such energy they caused many other interested parties to pull back.

Matters moved swiftly in increments of €10,000 until the property was withdrawn at €380,000 and sold for a higher price immediately afterwards to a Roscommon farmer.

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The underbidder was a solicitor from Galway, who was acting in trust for a client.

Meanwhile, further east at Kilglynn, Kilcock, Co Meath, a non-residential farm extending to 23ac sold under the hammer of Aidan Heffernan of Sherry FitzGerald Royal for €200,000.

The non-residential holding is laid out in a single division, in permanent pasture and watered by a river and stream. Buildings and facilities on the farm include a two-bay haybarn, gathering pen and cattle crush.

Bidding started at €140,000 and with three bidders in the race, two local farmers and a professional man with farming interests, moved swiftly along.

The bidding soon hit the guide price of €200,000, at which point the property was put on the market and sold to the professional man.

Mr Heffernan also sold three other rural properties on the day. These included a detached single-storey cottage on 0.65ac and in need of attention located at Crowpark, 1.5 miles from Trim.

It was withdrawn at €64,000 and sold after auction for a higher figure.

A site extending to 0.95ac with excellent road frontage at Kilshanchoe, Enfield, Co Meath, sold for €27,000, while a derelict bungalow on the Moynalty Road from Kells came with a guide price of €50,000 and sold at auction for €70,000.

Irish Independent